Agri Picks Report: Geojit
According to According to A stronger rupee and a rise in prices in the domestic market have made India's cotton uncompetitive, weighing on the exports of the commodity, trade officials said.
June 03, 2021 / 09:40 AM IST
Geojit's report on Agri Picks
A stronger rupee and a rise in prices in the domestic market have made India's cotton uncompetitive, weighing on the exports of the commodity, trade officials said. Strengthening of westerly winds in the lower levels of the south Arabian Sea is likely to favour conditions for the onset of southwest monsoon over Kerala in the next 24 hours, India Meteorological Department said. The government has bought a record 40.9 mln tn of wheat, up 12.7% from a year ago, so far in 2021-22 (Apr-Mar) rabi marketing season. The government is nearing its procurement target of 42.7 mln tn for this year, it said in a release. The average price of chana in 2021-22 (Aug-Jul) is seen rising sharply to $660 per tn from $545 per tn pegged a month ago, due to a smaller crop, Agriculture and Agri-Food Canada said in its May update.
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